Luxury apartments have replaced mansions as the symbol of prestige on the Gold Coast, with prices for premium units rising by 88% over the past five years. A report by McGrath revealed that wealthy buyers have played a major role in stimulating the local market, outperforming the national growth of luxury apartments by 33.4%.
The luxury real estate market on the coast has also outperformed major cities. Brisbane recorded a 60% increase in new premium apartments, while Sydney and Melbourne posted more modest growth rates. John McGrath explained that the shift toward building spacious luxury apartments has significantly transformed the market.
Apartments have become the preferred option for affluent buyers due to their luxury amenities, security, and advanced designs. The Gold Coast has surpassed the Sunshine Coast with an average price of $1.7 million, driven by larger designs and locations closer to the beaches. The share of apartments with three bedrooms or more increased from 17% between 2017 and 2019 to 45% between 2023 and 2025.
Southeast Queensland has gained popularity as an ideal destination for luxury real estate, especially in locations close to major cities and surrounded by stunning natural landscapes. However, Michelle Ciesielski warned that developers must improve project quality to meet buyers’ expectations while addressing rising construction costs and increasing competition in the market.
